Explosive addition further synthesizes DeFi and traditional markets, creates elevated “crypto Robinhood” app for retail investors on the blockchain
WallStreetBets, the grassroots collective that grabbed headlines for its battle against GameStop short sellers, announced the launch of single stock offerings on the WallStreetBets decentralized application (WSB DApp). The availability of real-world assets marks a significant leap forward for the decentralized finance (DeFi) space as WallStreetBets continues its mission to converge the crypto and traditional finance worlds for retail investors.
The implementation of single stocks, alongside pre-existing novel exchange traded portfolios (ETPs), solidifies WallStreetBets as a key player in the DeFi space and creates a unique offering for investors looking to gain exposure to a fuller set of assets including macro-hedges against inflation. Enabled through a strategic partnership with Mirror Protocol, a leading synthetics protocol for on-chain price exposure, WSB DApp users will be able to leverage order routing to trade fungible synthetics that track the price of real-world single stocks, effectively making the stock market available on the blockchain.
SysAdmin Appreciation Day: Top Industry Leaders Share their Insights on IT and Data Ops
Positioned as an evolved trading platform based on blockchain (when compared to traditional offerings such as Robinhood), the WSB DApp gives retail investors the ability to unlock the full potential of decentralized finance for an elite single trading experience that removes traditional barriers such as restricted trading hours and location. The DeFi native WSB DApp allows for the following:
- Elimination of time barriers, allowing for investment and trading 24 hours a day for shares listed on the world’s stock exchanges.
- Removal of geographic barriers and foreign stock exchange restrictions, enabling investors to have exposure to assets in a global financial marketplace
- Combination of cryptocurrency and traditional market assets in one balanced, non-custodial portfolio, meaning investors maintain full control of their deposited assets and can withdraw them at any time.
“The ultimate goal of WallStreetBets is to place power in the hands of everyday investors so they can carve out a financial future free from market manipulation, not just within the crypto sphere but the financial sphere as a whole – and the introduction of single stocks brings us closer to that ideal,” said Jaime Rogozinski, founder of WallStreetbets and strategic partner of the WSB DApp. “The elevated experience we’re now offering significantly pushes the boundaries of trading, and we believe it’s going to help draw even traditional investors into a freer and fairer market.”
The starting list of single stocks available on the WSB DApp include:
- TSLA
- AMZN
- NFLX
- AAPL
- MSFT
- GOOGL
- BABA
- TWTR
- QQQ
The rising popularity of retail trading apps has helped bring in waves of little guy investors and made coordinated efforts like the GameStop short squeeze possible. Rather than rallying around one stock at a time, WSB DApp single stock products combined with ETPs provide these investors with the platform they deserve, spreading risk along with volatility hedging through exposure to a basket of community-selected assets.
